Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

16 Ways to Get Back on Track After Devastating Financial Mistakes

April 8, 2021 · Saving & Spending

Create a Workable Budget

Creating a budget that works for you and your needs is the next big step. The 50/30/20 method is widely used, so you could start off with that if you’re unsure of where to even begin. Half of your money should go towards needs, 30% should go towards things you want while an additional 20% should go towards savings or debts.

These numbers are flexible, though, but it’s good to start off at this point so you can later have a better idea of what needs changing. If you’re not even spending 30% of your income on yourself, you should siphon some of that money towards debts and savings.

There are also ways to keep your needs under 50%, such as cutting down on groceries while also refinancing your mortgage, if that is an option for you.

Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • 11 Things Retirees Wish Their Bank Had Told Them
  • 9 Great Communities for Retirees Who Are Social Butterflies
  • 12 Warning Signs You'll Actually Need to Unretire Soon
  • Smiling older park guide handing a trail map to someone against a sunny mountain lake backdrop. 8 Charming Resort Towns Perfect for Retirees Who Enjoy Seasonal Work
  • An older couple stands inside a modern living room looking out a large sliding glass door toward a sunny desert neighborhood. 10 Biggest Reasons So Many Retirees Say They Regret Moving to Arizona
  • Senior man sitting in a wooden armchair on a stone patio holding a mug, overlooking a desert landscape with mountains. 10 Underrated Southwest Towns Where You Can Retire on $1,500 or Less a Month
  • Older couple standing on a screened patio looking at a lake under storm clouds, with bills on a table in front. 8 Reasons You Don’t Want to Retire in Florida, According to Floridians
  • Older man writing with a pencil and woman reviewing an IRS Schedule A tax form at a wooden table with a calculator. What the 2026 Senior Tax Deduction Means for Retirees
  • A man sits at a wooden table in a sunlit kitchen, looking down intently at a financial document. Who Benefits From Trump’s 401(k) Plan (and Who Won’t)
  • A senior man sitting at a wooden table examines an investment portfolio document next to a notebook and coffee mug. 4 Boring Moves To Do Now to Add Hundreds to Your Social Security Check

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

If You Want to Retire Early Cut These 5 Expenses Now!

Vehicle purchases If you don’t want to spend $3,975 on a car purchase, as the…

Read More →

15 Best Deals for Seniors Only at Costco Stores

Discover the 15 most valuable Costco discounts for seniors, from prescription savings and premium hearing…

Read More →
An older couple in a cozy living room reviews a bank statement with a magnifying glass as paper money-airplanes float up.

10 Subscription Services Retirees Are Cancelling to Save Money

Discover 10 subscription services retirees are cancelling to eliminate recurring financial waste, cut cable costs,…

Read More →

10 Best Senior Discounts for 2022

Travel senior discounts – There are some museums, parks and historical sites that will always take…

Read More →

13 Truths About Retirement No One Wants To Talk About

Your golden years may come with some unexpected issues if you haven’t managed to plan…

Read More →

11 Myths About Social Security Finally Debunked

‘You’ll always be at a loss.’ Quite a lot of people seem to believe this…

Read More →

20 Smart Strategies to Boost Your Savings and Retire Rich

Save at Least 10% Per Year In order to have a comfortable and enjoyable retirement,…

Read More →

10 Ways to Invest in Your Retirement Without Saving Money

Let’s great it down! Your future goal could be to buy a smaller house during…

Read More →
A senior couple sits at a sunlit wooden table reviewing their credit card benefits over morning coffee.

The Credit Card Perks Retirees Overlook Every Single Month

Discover overlooked credit card perks that save retirees money every month, from free primary rental…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.